Drilling Success at First Ouassada Bedrock Targets

Toronto, Ontario, January 10, 2019 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the first-ever bedrock drilling on the Ouassada exploration permit on its Sikasso Property in Southern Mali.

Highlights

  • All 8 reverse-circulation (RC) holes completed over the first 5 of 14 prospective targets on Ouassada permit intercepted gold mineralization, including 13 metres (m) @ 1.97 grams per tonne (g/t) gold (Au) (from 51 m) and 16 m @ 1.47 g/t Au (from 96 m) in a single bedrock hole
  • Longest mineralized intervals were 46 m @ 0.65 g/t Au (from 18 m) and 27 m @ 0.92 g/t Au (from 96 m) from OURC005 (Ouassada RC hole 5)
  • Thirty-eight one-metre sample intervals contained more than 1 g/t Au, and fifteen contained more than 3 g/t Au, with the highest being 11.8 g/t Au
  • Funded and preparing for the next round of exploration in Q1-2019 to include ground geophysics and diamond drilling

Compass CEO, Larry Phillips, commented, “We are pleased with the results from our initial bedrock drilling program on the Ouassada permit, not only because all RC drill holes intersected gold mineralization in bedrock but also because we have identified two, wide mineralized gold zones in holes OURC004 and OURC005.  Without doubt, this provides us with confidence that we are on the right exploration track. We are already funded and preparing for the next phase of work at Ouassada in the coming weeks and months, including additional ground geophysics and bedrock drilling.”

Technical Director, Dr. Sandy Archibald, PGeo, added, “The drilling results are highly encouraging since they have given us extremely valuable information on the geology, structure and, most importantly, the style of gold mineralization at Ouassada.  We will apply this knowledge to the remaining nine exploration targets on the permit, and additional targets identified on the adjacent Sankarani permit. Meanwhile, we are laying out a 500-m diamond drilling program at our Farabakoura and Kabangoué targets on Ouassada to generate additional geological information on the mineralization in aid of our continued examination of the numerous targets that we have identified thus far.”

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Investor conference call (Available until December 20, 2018)

Your replay can be reached by calling the appropriate telephone number below and entering the replay passcode: 439802940

 

Conference: 106995817
Conference Date: Tuesday, November 20, 2018
Conference Time: 8:53 AM  (Eastern Time)

Replay Information:

Replay Start Date: Tuesday, November 20, 2018
Replay Start Time: 10:04 AM
Replay End Date: Thursday, December 20, 2018
Replay End Time: 10:04 AM

Replay Dial-In Numbers and Passcode:

Replay Passcode 439802940

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INVESTOR CONFERENCE CALL: AN INVITATION

Dear investor:

Larry Phillips, President, and CEO of Compass Gold Corp., is pleased to invite you to join him and our Technical Director, Dr. Sandy Archibald, for a conference call so that they can answer your questions and provide you with a brief update on the Company’s progress and exciting plans for launching the first ever bedrock drilling program on our Sikasso Properties in Southern Mali.

Anyone interested in joining one of the calls is invited to call the appropriate number below, (or refer to these International Dial in numbers) at any of the following times: 9:00 a.m. Eastern Time (Toronto) Monday, Nov 19th  / 9:00 a.m. ET Tuesday, Nov 20th / or 7:30 p.m. ET Tuesday Nov 20th

PRIMARY* CONFERENCE CALL NUMBERS:

Australia, Sydney : +1 61 (0) 2 8017 6391

Australia, Melbourne : +1 61 (0) 3 8687 0614

Australia, Brisbane : +1 61 (0) 7 3015 0608

Australia (toll free) : 1 800 720 493

Toronto Local: 416-915-3615

USA /Canada (toll free) 1-855-747-8824

USA 1-605-475-5618

Participant passcode is: 863201

Please let me know if you plan to join us at a particular time, so that I can have an idea of numbers. If you have any other questions, don’t hesitate to contact me.

Kind regards,

Greg W. Taylor

Director – Investor Relations & Corporate Communications

Compass Gold Corp.

E: gtaylor@compassgoldcorp.com

Website: www.compassgoldcorp.com

President’s Letter to Shareholders

This is a very exciting time for Compass Gold as we are on the verge of commencing the first ever bedrock drilling on four of the 14 bedrock drilling targets identified during Phase 1 of our 2018 Exploration Campaign in Southern Mali. We have waited patiently for an exceptionally heavy rainy season to come to an end. (Here is a link to a recent drone video tour of the site, which shows the residual rain water. https://youtu.be/PIl_zykX0G4)

Our team is currently in the field, preparing the drill pads and double-checking the exact locations where the first drill holes will each penetrate up to roughly 100 metres into the bedrock layer below. Each of the first four targets will be examined with 10-15 drill holes for a total cost of roughly $1 million.

Presidents Letter to Shareholders

President’s Letter to Shareholders

Since my last letter we have been reporting on the extensive soil sample and auger drilling results spanning the nearly 1200 sq. km of our Sikasso property in Southern Mali. Tens of thousands of soil samples and thousands of metres of auger drilling have now been completed, analysed and cross referenced by our technical team, using a variety of geological tools, data and independent studies. The exciting result is that we are now ready to commence a focused bedrock drilling program on numerous, high priority targets. By the end of our first year, we will have completed the first bedrock drilling ever performed on the Sikasso Property. This work will begin after the rainy season ends in the coming weeks and once the ground has dried out enough to enable our team and contractors to safely access the first priority target areas on our Ouassada permit.

For those not familiar with the weather conditions to which I am referring, the Sikasso Property is located on the southern edge of the Sahel, or sub-Saharan belt, and is characterized by a subtropical to hot climate with dry and wet seasons. Normally, the rainy season extends from May to October, with an average rainfall of 800-1000 mm, followed by six-months of hot dry conditions. (See the graph and photos below.) Although some limited exploration activity can be conducted year-round, many roads and streams are dangerous or simply impassable during the wet season, and also for some weeks after the rains cease. By all accounts, this latest rainy season has been one of the wettest in the last ten years.

Click here to read the full letter

 

Compass Gold Corporation Appoints INFOR Financial Inc. for Market Maker Services

TORONTO, Oct. 12, 2018 – Compass Gold Corporation. (TSX-V: CVB) (“Compass”) is pleased to announce that it has retained INFOR Financial Inc. (INFOR Financial) to provide market making services on the TSX Venture Exchange (the “TSX-V”), in compliance with the policies and guidelines of the exchange.

INFOR Financial will trade the securities of Compass Gold on the TSX-V for the purpose of maintaining an orderly market and to provide liquidity of Compass’ common shares. Compass Gold will pay INFOR Financial $5,000 per month for a minimum term of three months renewable every month thereafter.  Each party will have an option to cancel upon thirty days’ prior notice. There are no performance factors contained in the agreement and INFOR Financial will not receive shares or options as compensation. INFOR Financial and Compass Gold are unrelated and unaffiliated entities, but INFOR Financial and/or its clients may have an interest, directly or indirectly, in the securities of Compass.

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SOIL GEOCHEMICAL SURVEY IDENTIFIES NUMEROUS GOLD ANOMALIES COINCIDENT WITH CRUSTAL-SCALE FAULTS ON KOUROU PERMIT

Toronto, Ontario, October 9, 2018 – Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to provide an update on the now completed priority shallow soil geochemical survey program over the Kourou and Tiélouléna exploration permits on its Sikasso Property in Southern Mali.

Highlights

  • Twelve discrete gold anomalies were identified on Kourou permit along strike lengths up to 5 km
  • Highest soil sample contained 1.38 grams per tonne (g/t) gold (Au)
  • Fourteen soil samples contained more than 0.1 g/t Au (100 ppb)
  • A total of 4,597 shallow soil samples were collected on the Kourou and Tiélouléna permits, where 689 shallow soil samples returned above the 5 parts per billion (ppb) limit of detection
  • Mineralization is coincident with deep linear structures, interpreted as faults, from a remote sensing study

 Compass CEO, Larry Phillips, commented, “We are pleased to report the results from our initial shallow soil program on Kourou, where we have identified twelve linear anomalies over the length of the permit.  Most of the anomalies correspond with interpreted faults.  This includes a 2-km anomaly associated with artisanal workings that contained up to 5.04 g/t gold from grab samples.  Again, these initial results give us confidence that we are following the right exploration plan in an area that has been shown to contain several, rich gold mines. Meanwhile, we are anxious to continue our work on these two permits once the rains abate. At the same time, we will be initiating the first bedrock drilling program on our Ouassada permit targets, which are located approximately 50 km northwest of Kourou and Tiélouléna.”

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DRILLING CONTRACT SIGNED IN PREPARATION FOR TESTING THE FIRST OF 14 BEDROCK GOLD TARGETS

Toronto, Ontario, September 27, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to announce that it has engaged a drilling contractor in preparation for the Company’s initial 3,500 m bedrock-drilling program on the Ouassada permit on its Sikasso Property in Southern Mali.

Highlights

  • Signed drilling contact with Target Drilling SARL for the provision of 2,500 m of air core (AC) drilling and 1,000 m of reverse circulation (RC) drilling
  • Drilling represents the first ever bedrock drilling on the 1,179 sq. km Sikasso Property
  • Initial drilling will focus on four zones on the Ouassada permit considered to be priority areas, and which contain active artisanal gold mining
  • A total of 14 drilling targets were identified on the permit using a combination of geochemistry, geophysics, remote sensing and geological mapping
  • The drilling targets average 1.2 km in length, and the expected depth to fresh bedrock is approximately 50 m

Compass CEO, Larry Phillips, commented, “I am excited at the prospect of drill testing the first of the bedrock drill targets at Ouassada that our technical team has worked diligently to select. Target Drilling has a good reputation and track record in Mali, and we eagerly anticipate seeing their drill rigs starting as soon as ground conditions permit. Artisanal miners have been finding gold in the bedrock on the Sikasso Property for at least fifteen years, but this will be the first time anyone has drill-tested it.”

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COMPASS GOLD IDENTIFIES DISCRETE GOLD IN SOIL ANOMALIES COINCIDENT WITH CRUSTAL-SCALE FAULTS ON KALÉ PERMIT

Toronto, Ontario, September 17, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the initial results from the completed shallow soil geochemical survey program over the Kalé exploration permit on its Sikasso Property in Southern Mali.
Highlights
● Four discrete anomalous gold zones were identified over a distance of 15 km on the Kalé permit
● Highest soil sample contained 127 parts per billion (ppb) gold (Au) over a permit with no known outcrops
● Gold anomalism is coincident with deep linear structures, interpreted as faults, identified in the recently completed remote sensing and geophysics studies
● 1,746 samples were collected and analyzed on the areas considered the most prospective for gold mineralization

Compass CEO, Larry Phillips, commented, “These latest shallow soil assay results from the Kalé permit provide us with more evidence of the mounting potential across much of our Sikasso property. Our focused soil sampling study over Kalé has identified four areas over a distance of 14 km that require follow-up geochemistry. Importantly, our remote sensing and geophysical studies suggest these anomalies are located on the fault zone associated with at least two other known gold deposits. When field operations begin after the rains, these will be four more areas where we look forward to conducting additional work.”

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DRILLING PLANNED TO COMMENCE IN EARLY NOVEMBER TO TEST FIRST OF 14 IDENTIFIED BEDROCK TARGETS

Toronto, Ontario, July 31, 2018 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the current geochemistry and geophysics surveys, and the planned Q4 work program on the Sikasso Property in Southern Mali.

Highlights

  • Completion of phase 1 exploration on Ouassada permit, and review of results has identified 14 targets over a distance of 12 km that warrant bedrock drilling
  • Proposed phase 2 drilling will target near-surface bedrock gold mineralization
  • Four zones containing active artisanal mining are considered priority areas; will involve six fences of drilling totaling approximately 3,500 m
  • The average length of the 14 drilling targets is 1.2 km; the longest zone is 2.45 km
  • Targets based on shallow and deep (auger) soil gold anomalism; induced polarization (IP) conductors; geological mapping; and, interpretation of high-resolution airborne magnetic geophysics

Compass CEO, Larry Phillips, commented, “This represents an exciting new chapter for the Company, as it will be the first bedrock drilling program ever executed on our 1,179 sq. km Sikasso property. We’ve achieved this pending milestone through the dedicated work of our technical team, led by Dr. Madani Diallo, which has complied the results of extensive exploration geochemistry and geophysics work to identify these first 14 bedrock drilling targets.  While we had already planned and budgeted to examine the first two targets in this second phase, we have identified still more priority targets. Now, with the additional funds raised in May, we are looking to expand our bedrock drilling to test four priority target zones in areas of current artisanal mining activity. We hope that drilling will begin in early-November when ground conditions are suitable.”

Click here to read full release